10 ways to measure Obama’s economic performance

Are you better off than you were four years ago? The answer to that question will help determine if President Barack Obama gets re-elected.

Here’s a look at 10 key economic benchmarks, covering the period from when President Bill Clinton left office, through President George W. Bush’s two terms, and to the present day.

Change in GDP

Changes in the nation’s gross domestic product indicate whether the economy is growing or shrinking. As these numbers show, both President George W. Bush and President Barack Obama inherited weak economies, but Obama took office amid a severe recession.

First quarter 2001: +1.2%

First quarter 2005: +3.8%

First quarter 2009: -5.3%

Second quarter 2012: +1.7%

Unemployment rate

The unemployment rate when Bush and Obama took office was as low as it ever got during their terms in office. Both were accused of presiding over a “jobless recovery.”

January 2001: 4.2%

January 2005: 5.3%

January 2009: 7.8%

September 2012: 7.8%

Dow Jones Industrial Average

Main Street is tied to Wall Street since many ordinary Americans are investors through their retirement plans. How your 401(k) is performing has a major impact on your sense of financial well-being. After a rough ride for a few years, the Dow stock index is near the top of the roller coaster now.

Jan. 20, 2001: 10,588

Jan. 20, 2005: 10,785

Jan. 20, 2009: 7,949

Oct. 10, 2012: 13,345

NFIB Small Business Optimism Index

This index is based on monthly surveys of small business owners and their answers about their sales, hiring plans, business climate outlook and other economic indicators. In this index, a score of 100 equals conditions in 1986. The index hasn’t reached the 100 mark since 2006.

January 2001: 96.5

January 2005: 103.7

January 2009: 84.1

September 2012: 92.8

SBA 7(a) loans

Loans guaranteed by the Small Business Administration are only a small piece of overall small business lending, but the agency’s flagship 7(a) loans are a critical source of long-term loans. SBA 7(a) lending fell during the financial crisis, and then recovered after Congress temporarily raised the government guarantee on the loans and reduced fees for borrowers and lenders. SBA lending remained strong after those incentives expired.

Fiscal 2001: $9.9 billion

Fiscal 2005: $15.2 billion

Fiscal 2009: $9.3 billion

Fiscal 2012: $15.2 billion

Median household income

This number may have the most meaning for how voters view their economic situation. Median household income peaked in 1999, then stagnated before falling when the recession hit. It continued to drop in 2010 and 2011.

1999: $54,932

2007: $54,489

2011: $50,054

Poverty rate

Income inequality has been rising for years, leading many Democrats to call for increased taxes on the wealthy in order to redistribute their wealth. The poverty rate has been growing during both Republican and Democratic administrations.

2001: 11.7%

2005: 13.3%

2009: 14.3%

2011: 15%

Home prices

This is an important statistic because housing equity is one of the main sources of wealth for many Americans. The median sales price for existing single-family homes peaked at $221,900 in 2006, according to the National Association of Realtors.

2001: $156,600

2005: $219,000

2009: $172,100

August 2012: $187,400

Gasoline prices

This one is tricky because retail gasoline prices fluctuate wildly, depending on economic conditions, geopolitical events and natural disasters.

Jan. 22, 2001: $1.47

Jan. 24, 2005: $1.85

Jan. 19, 2009: $1.85

Oct. 10, 2012: $3.81

Federal surplus/deficit

Business owners are worried about federal deficits. If the national debt isn’t brought under control, higher interest rates and higher taxes are inevitable. Business owners also worry about the burden high debt will have on future generations.